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HomeMy WebLinkAboutCC Reso 2014-02 RESOLUTION NO. 2014-©2 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CATHEDRAL CITY APPROVING THE THIRD AMENDMENT FOR THE FOURTH EXTENSION TO CONSTRUCTION REIMBURSEMENT AGREEMENT #335 BETWEEN THE CITY OF CATHEDRAL CITY AND LANDAU DEVELOPMENT CO., INC. WHEREAS, the City of Cathedral City (the "City") and Landau Development Co., Inc. (the "Subdivider") previously entered into that certain Construction Reimbursement Agreement (the "Original Agreement") dated March 1, 1989 in connection with the development and subdivision of Tract 21491 located at the southwest corner of 30th Avenue and landau Boulevard (the"Property"); and WHEREAS, pursuant to the Original Agreement, properties connecting to and benefited by certain sewer and water facilities constructed by Subdivider in connection with the development of the Property were to reimburse Subdivider on a proportionate basis. The City was obligated thereunder to collect the reimbursements; and WHEREAS, the Original Agreement had an original term of ten (10) years, with Subdivider maintaining an option to extend said term for one additional five (5) year extension period (the "First Extension Period"); and WHEREAS, Subdivider requested and was granted the First Extension Period, which expired on January 31, 2004; and WHEREAS, prior to the expiration of the First Extension Period, Subdivider requested that the Original Agreement be extended for an additional five (5) year period (the "Second Extension Period"), and the City Council did give its express approval of the Second Extension Period by its adoption of Resolution No. 2004-6, which approved the First Amendment to the Original Agreement and approved the Second Extension Period, which expired on January 31, 2009; and WHEREAS, prior to the expiration of the Second Extension Period, Subdivider requested that the Original Agreement and the First Amendment thereof be extended for an additional five (5) year period (the "Third Extension Period"), and the City Council did give its express approval of the Third Extension Period by its adoption of Resolution No. 2009-08, which approved the Second Amendment to the Original Agreement and approved the Third Extension Period, which is scheduled to expire on January 31, 2014; and WHEREAS, prior to the expiration of the Third Extension Period, the Subdivider requested that the Original Agreement and the First and Second Amendments thereof be given an additional five (5) year extension (the "Fourth Extension Period"); and WHEREAS, the City and Subdivider find it desirable to extend the Original Agreement for the Fourth Extension Period, but cannot do so without an amendment to the Original Agreement and to the First and Second Amendments thereof, to allow for such Fourth Extension Period; and WHEREAS, in order to extend the Original Agreement and the First and Second Amendments thereof by an additional five (5) year period, the City and the Subdivider desire to enter into the Third Amendment to the Original Agreement; and WHEREAS, the City Council has reviewed the Third Amendment and all testimony and evidence for and against the approval of the Third Amendment. NOW, THEREFORE, the City Council of the City of Cathedral City hereby resolves as follows: Section 1 . The foregoing Recitals are true and correct and are incorporated herein by this reference . Section 2. The City Council hereby approves the Third Amendment, and the execution thereof by the Mayor and in doing so also authorizes the Fourth Extension of the Original Agreement by an additional five (5) years, such that it will expire on January 31, 2019. Section 3. This Resolution shall take effect upon its adoption. PASSED, APPROVED, and ADOPTED at a regular meeting of the City Council for the City of Cathedral City held on this OTh day of January, 2014, by the following vote: Ayes: 4 D c c , v-Aeclurz I- n I O\C5 Noes: pf Abstain: - hleen J. osa, ayor Cit of Cat %ral City I ATTES • °AM' iii...firIVEr Ea:va—amouv -Gary _. Howell, •ity Clerk APPROVED S TO FORM: APPROVED AS TO ••NTENT: / rte.. %i� City Attorney Pat Milos, Director of Community Deve opment REVIEWED: ' R••erick J. Wo In erim City ■ -nager